Furman Center Updates »
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Furman Center Releases State of New York City’s Housing and Neighborhoods 2011
May 1, 2012: The Furman Center is pleased the present the 2011 edition of the State of New York City’s Housing and Neighborhoods. In this annual report, the Furman Center compiles statistics on housing, demographics and quality of life in the City, its five boroughs and 59 community districts.This year we examine the distribution of the burden of New York City’s property tax, analyze the changing racial and ethnic makeup of city neighborhoods, evaluate the state of mortgage lending in New York City, and compare federally-subsidized housing programs across the five most populous U.S. cities. Read the Press Release here.
May 1, 2012: The Furman Center is pleased the present the 2011 edition of the State of New York City’s Housing and Neighborhoods. In this annual report, the Furman Center compiles statistics on housing, demographics and quality of life in the City, its five boroughs and 59 community districts.This year we examine the distribution of the burden of New York City’s property tax, analyze the changing racial and ethnic makeup of city neighborhoods, evaluate the state of mortgage lending in New York City, and compare federally-subsidized housing programs across the five most populous U.S. cities. Read the Press Release here.
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Furman Center Issues Fact Brief on Rent Stabilization Case
April 19, 2012: The Furman Center for Real Estate and Urban Policy has issued a fact brief about rent stabilization in New York City in advance of the U.S. Supreme Court’s announcement on whether it will hear the case of Harmon v. Kimmel, which challenges rent regulation laws in New York City. The brief details the number of rent stabilized units in New York City, in addition to demographic and socioeconomic data comparing tenants inhabiting these units with tenants in market rate units. If heard by the Supreme Court, the case could potentially affect nearly half of the rental units in New York City. Read the full fact brief here.
April 19, 2012: The Furman Center for Real Estate and Urban Policy has issued a fact brief about rent stabilization in New York City in advance of the U.S. Supreme Court’s announcement on whether it will hear the case of Harmon v. Kimmel, which challenges rent regulation laws in New York City. The brief details the number of rent stabilized units in New York City, in addition to demographic and socioeconomic data comparing tenants inhabiting these units with tenants in market rate units. If heard by the Supreme Court, the case could potentially affect nearly half of the rental units in New York City. Read the full fact brief here.
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Furman Center Research Featured in HUD’s Cityscape Journal
March 27, 2012: Two Furman Center research papers were featured in the U.S. Department of Housing and Urban Development’s Cityscape, a journal on policy development and research. Furman researchers, Samuel Dastrup, Simon McDonnell, and Vincent Reina’s paper “Household Energy Bills and Subsidized Housing” examines the incentives for different billing arrangements under the Project-based Section 8, Section 8 voucher, Public Housing, and Low Income Housing Tax Credit programs compared to unassisted properties. The study finds that assisted tenants’ rent is more likely to include utilities, which reduces the incentive for energy efficient investments. Research Fellow Vincent Reina and Data Manager Michael Williams’ paper “The Importance of Using Layered Data to Analyze Housing: The Case of the Subsidized Housing Information Project” features the Furman Center’s Subsidized Housing Information Project (SHIP) database, which combines more than 50 disparate data sets to provide extensive information on nearly 235,000 units of privately-owned subsidized rental housing in New York City. The article shows how the layering of data in the SHIP database provides a more accurate estimate of how many units have been developed, preserved, and may expire from their subsidy program, while the pooling of data allows for the analysis of financing trends for housing subsidy programs. Find the full papers here.
March 27, 2012: Two Furman Center research papers were featured in the U.S. Department of Housing and Urban Development’s Cityscape, a journal on policy development and research. Furman researchers, Samuel Dastrup, Simon McDonnell, and Vincent Reina’s paper “Household Energy Bills and Subsidized Housing” examines the incentives for different billing arrangements under the Project-based Section 8, Section 8 voucher, Public Housing, and Low Income Housing Tax Credit programs compared to unassisted properties. The study finds that assisted tenants’ rent is more likely to include utilities, which reduces the incentive for energy efficient investments. Research Fellow Vincent Reina and Data Manager Michael Williams’ paper “The Importance of Using Layered Data to Analyze Housing: The Case of the Subsidized Housing Information Project” features the Furman Center’s Subsidized Housing Information Project (SHIP) database, which combines more than 50 disparate data sets to provide extensive information on nearly 235,000 units of privately-owned subsidized rental housing in New York City. The article shows how the layering of data in the SHIP database provides a more accurate estimate of how many units have been developed, preserved, and may expire from their subsidy program, while the pooling of data allows for the analysis of financing trends for housing subsidy programs. Find the full papers here.
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Furman Center Launches New York City Quarterly Housing Report
March 28, 2012: In an analysis of fourth quarter 2011 housing indicators, the Furman Center finds that home sales volume continued to decline citywide, with the number of transactions citywide down 15 percent from the previous quarter and 11 percent from the fourth quarter of 2010. Foreclosure starts were down in most of the city. Manhattan was the only borough where the number of foreclosure starts increased, although the number of foreclosure notices issued in Manhattan remained well below the numbers issued in any of the other boroughs. The Quarterly Housing Update is unique among New York City housing reports because it incorporates sales data, new construction indicators, and foreclosures. It also presents a repeat sales index for each borough to capture price appreciation while controlling for housing quality. View the press release.
In an analysis of fourth quarter 2011 housing indicators, the Furman Center finds that home sales volume continued to decline citywide, with the number of transactions citywide down 15 percent from the previous quarter and 11 percent from the fourth quarter of 2010. Foreclosure starts were down in most of the city. Manhattan was the only borough where the number of foreclosure starts increased, although the number of foreclosure notices issued in Manhattan remained well below the numbers issued in any of the other boroughs. The Quarterly Housing Update is unique among New York City housing reports because it incorporates sales data, new construction indicators, and foreclosures. It also presents a repeat sales index for each borough to capture price appreciation while controlling for housing quality. View the press release.
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Member of Furman Center’s Board of Advisors Named in Crain’s “40 Under Forty”
March 26, 2012: Melissa Pianko, Executive Vice President of Development at the Gotham Organization and a member of the Furman Center for Real Estate and Urban Policy’s Board of Advisors has been named one of Crain’s New York Business’ 2012 “40 Under Forty.”
Melissa Pianko, Executive Vice President of Development at the Gotham Organization and a member of the Furman Center for Real Estate and Urban Policy’s Board of Advisors has been named one of Crain’s New York Business’ 2012 “40 Under Forty.”
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Furman Center Releases New Report on New York City’s Minimum Parking Requirements
March 21, 2012: A new analysis released by the Furman Center and its Institute for Affordable Housing Policy: Searching for the Right Spot: Minimum Parking Requirements and Housing Affordability in New York City, examines minimum residential parking requirements in communities throughout the city and explores the possible effects on housing affordability and on the city’s sustainability goals. The brief finds that the requirements may be causing developers to supply more off-street parking spaces than tenants and homebuyers demand, potentially driving up the cost of housing and promoting inefficient car ownership. View the press release here.
March 21, 2012: A new analysis released by the Furman Center and its Institute for Affordable Housing Policy:
>Searching for the Right Spot: Minimum Parking Requirements and Housing Affordability in New York City, examines New York City’s minimum residential parking requirements in communities throughout the city and explores the possible effects on housing affordability and on the city’s sustainability goals. The brief finds that the requirements may be causing developers to supply more off-street parking spaces than tenants and homebuyers demand, potentially driving up the cost of housing and promoting inefficient car ownership. View the press release here.
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